Proxy Firms Back Terran Orbital Merger Vote October 2024

Terran Orbital Corporation, a prominent manufacturer of satellite products, is under scrutiny regarding a proposed merger. The company has sought guidance from leading proxy advisory firms, Glass Lewis and ISS, which have both recommended stockholders vote in favor of the merger. This recommendation comes after a comprehensive strategic review process, suggesting that Terran has already explored all available options for financial stability. In the review, Glass Lewis highlighted that the proposed merger is currently the only viable path for investors, as any rejection would lead Terran Orbital into a precarious financial position. Without the merger, the company would face insufficient liquidity to continue operations and would likely have to file for bankruptcy, effectively erasing any potential returns for existing equity holders. The urgency of this decision is heightened by the upcoming special meeting of stockholders scheduled for October 29, 2024, where they will vote on the merger proposals. The Board of Directors strongly supports the merger and emphasizes the importance of every vote, recognizing the potentially dire financial implications if the transaction is not approved. As stockholders prepare for the meeting, it is essential for them to consider the guidance provided by Glass Lewis and ISS, as well as the significance of this merger in ensuring the future stability and operational capacity of Terran Orbital in the aerospace and defense sectors.